The Trump family's cryptocurrency platform, World Liberty Financial, stated in the report announced Thursday that DT Marks DEFI LLC, a Delaware-based company with ties to the former president, could earn 75 percent of WLF's protocol revenue.
World Liberty Financial, led by President Trump's two sons, Eric Trump and Donald Trump Jr., is the latest in industry frustration with the approach of the Biden administration and Securities and Exchange Commission Chairman Gary Gensler. It was established almost a month ago, amid a growing trend of We are working towards cryptocurrency enforcement.
The report states that net protocol revenue “includes platform fees, token sale proceeds, advertising, and other revenue sources, after deducting agreed expenses and reserves for the continued operation of WLF.” “Includes, but is not limited to, revenue to WLF from any source.”
The report notes that the platform and the WLFI token, released earlier this week, are not political and are not affiliated with any political movement. He also said that Trump and his family do not take any responsibility.
The $30 million will be kept in reserves to cover operating expenses and obligations, the report said.
Axiom Management Group LLC, a Puerto Rican limited liability company, will receive 7.5 billion WLFI tokens and 25% of net protocol revenue, according to the report.
Axios reported on Thursday The platform said it sold 4 percent of its tokens.
